Asia is likely to lead global polyvinyl chloride (PVC) capacity additions with a capacity of 6.35 million tpy by 2026. In Asia, China accounts for 51% of the region’s capacity additions and is expected to lead global PVC capacity additions in the region, forecasts GlobalData.
GlobalData’s report, ‘Polyvinyl Chloride Industry Installed Capacity and Capital Expenditure (CapEx) Forecast by Region and Countries including details of All Active Plants, Planned and Announced Projects, 2022-2026’, reveals that Asia has 18 new-build and expansion projects in place, with 4.40 million tpy from new-build projects and 1.95 million tpy from expansion projects.
Vinuthna Bidar, Oil and Gas Analyst at GlobalData, says: “In China, six new-build and expansion projects are likely to start operations with a capacity of around 3.25 million tpy by 2026. The majority of the capacity additions will be from Xinjiang Zhongtai Chemical Company Baicheng PVC Plant, which has a capacity of 1.00 million tpy and is expected to commence production in 2024.”
GlobalData identifies India as the second-highest country in terms of capacity additions with a capacity of 1.74 million tpy by 2026. The majority of the capacity additions will be from an announced project, Haldia Petrochemicals Kakinada PVC Plant, which has a capacity of 0.60 million tpy. It is expected to commence production in 2025.
The US will be the third-highest country in terms of capacity additions with a capacity of 1.72 million tpy by 2026. The majority of the capacity additions will be from an announced project, Formosa Plastics Corporation Point Comfort PVC Plant, with a capacity of 0.80 million tpy. It is expected to come online in 2025.
Formosa Plastics Group, Xinjiang Zhongtai Chemical Co. Ltd and Tianjin Bohai Chemical Industry Co. Ltd will be the top three companies globally in terms of planned and announced capacity additions during the outlook period.
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